Faux = false or
fake. 'mo' is
short for "
homo(sexual)". Therefore "feaux 'mo' fashion show" means a man wearing clothes that might cause him to appear gay, even though he is not. Such as when a man accidentally (or purposely, for lack of clean clothes) wears an item of his wife'
s or girlfriend's clothing, not something as overtly feminine as a dress, but, say, some women's jeans, or a shirt that almost, but not quite, looks like a man's shirt.